Kalshi sues Illinois over prediction market taxes and licensing rules
Kalshi filed suit against Illinois, seeking to block taxes and licensing requirements that would treat the company as a sports betting operator from 1 July, according to the report. The company argues its event contracts fall under exclusive CFTC oversight, while Illinois authorities contend the products are sports betting. Illinois Attorney General Kwame Raoul’s office said it was reviewing the complaint.
The lawsuit challenges whether Illinois can apply sportsbook taxes and licensing requirements to Kalshi’s event contracts.